Bullish Engulfing Pattern Things seem to be progressing quite nicely since the end of the pennant pattern, to which we have now entered into to a Bullish Engulfing Pattern on a Weekly Chart .
Items of note on the weekly chart:
Bullish Engulfing Pattern...Very very very Bullish
9 day has crossed above the 12 day which has crossed above the 14 day....very bullish
Tomorrow the 14 day will cross the 18 and the 20 day moving average....very bullish
MACD still heading up and about to cross above the zero line... very bullish
TRIX cross over AND upward divergence and heading up higher in general...vert bullish
Both Fast and Slow Stochastics have turned and are heading higher with the 50 line seen to be as a possible resistance point still aways away.... bullish
RSI heading higher and presently at the 50 line....neutral to bullish
Williams %R turned and heading higher...bullish
True Strength Index still heading higher, much higher....very bullish
ROC still heading higher...bullish
Price Momentum still heading higher...bullish
POV starting to level out....bullish but also showing upward divergence ...very bullish
PPO still heading higher ...bullish
OBV has now turned upward ...bullish
MFI has now flattened and is starting top curl upward...bullish
Mass Index still heading skyward...bullish
CMF now crossed above the zero line and heading higher... very bullish
CCI has found support on the 50 line and has now turned up and away from it...very bullish
ATR has ever so slightly now started to turn up....still bullish
ADX +D line still above the ADX and -D line and now turning up again....very bullish
And finally Accumulation/distribution has now turned upward....bullish
I can honestly say in almost all of my years of charting that I have not found a weekly chart that has so many indicators ALL showing a turn around and such bullish signals. Normally they are all scattered about but this stock has ALL its ducks lines up in a row...fricken amazing!!
The notes are as follows...by the way on a monthly the MACD has now crossed over
9 through to 20 day moving averages all either flattened or curling up but not in order....bullish
MACD will cross above the signal line tomorrow...very bullish
ADX +D line above the -D and ADX line but turned down...short term bearish long term bullish
RSI broke above the 50 line and heading higher ... bullish
Williams %R moving into oversold territory...short term bearish
Fast Stochastics moving into oversold territory...short term bearish
Slow Stochastics broke above the 50 line...bullish
CMF, MFI, OBV, CCI, NVI, ATR, all reversed trend and are now heading higher...bullish